M&A Activity • Oct 13, 2008
M&A Activity
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Corporate | 13 October 2008 10:00
AURELIUS sells part of its share in French bank
AURELIUS AG / Disposal
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
• Sale of 15 percent to French Laser-Cofinoga Group
• Purchase price is about 12 million euros
• Sale will result in significant extraordinary gains in fourth quarter.
Munich, October 13, 2008 – The Munich industrial holding AURELIUS has
successfully sold a share in its interest in the French bank Compagnie de
Gestion et des Prêts (CDGP). The purchaser of the share amounting to 15
percent is LaSer Cofinoga, a subsidiary of the biggest French banking
group, BNP Paribas. The purchase price for the holding is about 12 million
euros. This results in a current market value for CDGP of 80 million euros
in total.
CDGP is a subsidiary of the Quelle France Group, which AURELIUS bought in
July 2007 from Arcandor. Founded in 1977 as a company bank to handle
installment payments, the company has in recent years developed into a
national specialist for consumer loans. Today CDGP has a regular customer
base of 250,000 active customers and a balance sheet total of over 400
million euros.
Following the sale of the KWE Group in August, the transaction represents
the second exit of the industrial holding AURELIUS in the current financial
year. 'The fact that we managed to keep CDGP away from the current issues
in the banking sector makes the company especially attractive for others,'
explains Dr. Dirk Markus, CEO of AURELIUS. 'For AURELIUS, the sale means
significant extraordinary gains in the current quarter.'
The management board expects distinct earnings growth compared to last year
for the third quarter, on whose development AURELIUS will report at the end
of November. The reasons for this, apart from the positive course of
business operations, are benefits from company acquisitions, above all the
takeover of Berentzen-Gruppe AG in July.
For further information on AURELIUS please contact:
Ingo Middelmenne
Investor Relations & Corporate Communications
Phone +49 (89) 544799 - 56
Fax +49 (89) 544799 - 55
[email protected]
About AURELIUS AG
AURELIUS AG based in Munich, Germany, is a Frankfurt stock exchange listed
industrial holding company. AURELIUS acquires and actively develops
medium-sized companies and business units that no longer belong to the core
business of their previous owners. These include corporate spin-offs and
divestitures, as well as companies with operational improvement potential.
Through its operational in-house team, AURELIUS enhances the value of its
portfolio companies to the benefit of all stakeholders taking into account
corporate and social responsibility. The shares of AURELIUS AG are traded
on the open market of the Frankfurt stock exchange (ISIN: DE000A0JK2A8).
13.10.2008 Financial News transmitted by DGAP
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